by virtualworks | Mar 24, 2024 | Accomplishments, Business, business growth, Customer relationships, Leadership, Marketing, Mastery, Productivity
As the needs and wants of society change, the requirements of many suppliers of goods and services change as well. Changes in technology and the ways to manage them, such as those mentioned in Forbes article on this topic, current issues and other innovations have made it so businesses must be mindful of how these have an impact on their business offerings. So how do you know when it’s time to change or at least time to think about evolving your business?
Consider some of the following indicators as potential flags for a business in need of evolution:
- Current clients have chosen to move to other companies for the goods and services you once provided to them;
2. There doesn’t seem to be any new business coming in;
3. There have been significant changes within your industry;
4. Service gaps discovered while challenging your knowledge and client requests.
Current clients bring in revenue for your business, so as business owners we do all we can to ensure they are happy with the service and deliverables received. Some of the more common reasons for losing clients are either they are unhappy with the service received, the product delivered, or how much that product costs, but in many cases, businesses have worked hard to deliver a quality product, have remained professional and researched prices well enough that they align to the market. At times we hear business owners say, “I did all of that, but they still moved on.” In these cases, it is possible that the client simply didn’t need the product anymore as it is in its current state. Perhaps some enhancements can be made to your current offerings to provide a little more to clients to give you an extra edge over competitors. A few examples can be found in this Entrepreneurship in a Box’s article. It’s fantastic when current clients hang with us but to continue business growth, new customers are also needed. Positive word of mouth from existing customers is one of the best ways to create this organic growth in customer base, but if you need to go out to find them, you need to get out there. Try attending tradeshows, updating your marketing strategy and image and networking through newer types of media.
To manage both the maintenance of current clients and the acquisition of new clients it may be necessary to take a look for gaps in your current offerings. It’s nice to think we’re doing all we can, but perhaps there are areas you can educate yourself on to provide a more complete solution to clients. Maybe you are a bookkeeping wizard, but new accounting software has come out that you’re unfamiliar with, and you have begun to see a client need related to that software. It might be time to evolve and learn the software to fill in that gap to offer that complete bookkeeping solution.
Innovative changes happen constantly and will continue to do so, with or without you.
When your industry starts to change it may not be very noticeable at first but over time you may see your competitors changing and evolving with innovations and there may be a reason for it. When changes in technologies and how a client’s function in their activities happen, suppliers to those clients also need to evolve and innovate. Check into each of your products and services to see if they are all still applicable or if they have grown stale. If you’re wondering how this can be done, check out this interesting Info Entrepreneurs article touching on some of the ways to innovate.
by virtualworks | Mar 3, 2024 | Accomplishments, Business, business growth, daily lfe, Leadership, Mastery, Productivity
Whether in business or in our personal lives, we’re constantly striving to find something, to do something, or to complete something leading to an achievement or accomplishment and we measure how successful we are against the ability to reach these goals. Many times, we’re so busy looking ahead to how we can achieve these goals, we often forget to reflect on what we’ve already done and we may only be recognizing professional achievement and not the day to day ‘stuff’ that this wide ride called life can throw at us.
A colleague told me a story of how one of her friends was completely down on himself, feeling like he hadn’t accomplished anything. While he admitted this was an extreme way of thinking, to not have accomplished ANYTHING, he couldn’t shake the feeling that he had not yet done anything with his life, as he was in his mid-thirties, had never been able to buy his own home and did not have a solid career nailed down, nor did he have any idea what his career was. However, he had been married for 15 years, with three almost grown, respectful children and he took care of his parents and grandmother when he could. She pointed out what he had already accomplished but this didn’t resonate as actual accomplishments to him. But why?
When we fail to recognize what we’ve done in our lives as a whole, we may be denying ourselves that feeling of accomplishment, which gives us that little motivation boost to go further to achieve the goals we set out to do.
It comes down to how we measure success, and we all do it differently. These differences can stem from our upbringing, our personal and professional experience, our current societal norms, numerous other factors, but one thing remains: for the most part, we want to be successful and we each have a measure in our mind of what this is. Forbes magazine has given an indication of how one should measure success, and that all starts with YOU, in terms of what success represents, how it is measured in your state of mind, and that it is for YOU to measure an no one else. So the first question is: How do YOU measure success?
Success comes in many forms, small to large, professional and personal and it’s a good idea to know where you are at with respect to your own larger goals, because each little step further towards and overarching goal is an accomplishment in and of itself. If I said I want to be a psychologist so I can help people, this is a very broad and very big goal. The chance that I may not accomplish this larger goal is fairly likely, but that should not be a deterrent for trying or enjoying the path to get there. Each course passed towards a psychology degree, each article read and understood and each opportunity to rest and let the information connect is its own accomplishment.
So, why not celebrate what you have managed to do, to provide the fuel to your motivational fire?? If you’re still focused on those larger goals, Psychology Today as a short article on steps to achieving those goals and remember to enjoy the road to get there! So, take it easy on yourself, give yourself a pat on the back for what you’ve been able to do and you will move on to do more.
I’ve successfully written this short article.
Now it’s your turn to do something amazing!
As the needs and wants of society change, the requirements of many suppliers of goods and services change as well. Changes in technology and the ways to manage them, such as those mentioned in Forbes article on this topic, current issues and other innovations have made it so businesses must be mindful of how these have an impact on their business offerings. So how do you know when it’s time to change or at least time to think about evolving your business?
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